$MathMaster logo$

MathMaster

Home
general
what payment 7 months from now would be equivalent in value to a 3 300 payment due 23 months from now the value of money i

Question

What payment 7 months from now would be equivalent in value to a $3,300 payment due 23 months from now? The value of money is 2.7% simple interest. Round your answer to 2 decimal places. Show all work and how you arrive at the answer..

294

likes

1470 views

Answer to a math question What payment 7 months from now would be equivalent in value to a $3,300 payment due 23 months from now? The value of money is 2.7% simple interest. Round your answer to 2 decimal places. Show all work and how you arrive at the answer..

$Expert avatar$

4.4

120 Answers

Solution: For simple interest, A=P\left(1+rt\right) For payment due 23 months, 3300=P\left(1+\left(0.027\right)\left(23\right)\right)

P=\frac{3300}{1+\left(0.027\right)\left(23\right)}

P\approx2035.78 For payment due 7 months, A=2035.78\left(1+\left(0.027\right)\left(7\right)\right) A\approx2420.54 Answer: $2,420.54

Frequently asked questions (FAQs)

Q: State the rule for congruence of triangles.

+

Math question: Find the equation of a line with a slope of 3.5 and passes through the point (2, 7).

+

Math Question: How many different types of triangles can you form using sides measuring 5 cm, 8 cm, and 10 cm?

+

New questions in Mathematics

If we have the sequence: 3, 6, 12, 24 Please determine the 14th term.

Elliot opened a savings account and deposited $5000.00 as principal. The account earns 4% interest, compounded annually. How much interest will he earn after 5 years? Round your answer to the nearest cent.

Determine the absolute extrema of the function 𝑓(𝑥)=𝑥3−18𝑥2 96𝑥 , on the interval [1,10]

Director of reservations believes that 9% of the ticketed passengers are no-shows. If the directors right what is the probability that the proportion of no-shows in a sample of 789 ticketed passengers with differ from the population proportion buy more than 3% round your answer to four decimal places.

Desarrolla (2x)(3y + 2x)5

In a order to compare the means of two populations, independent random samples of 410 observations are selected from each population, with Sample 1 the results found in the table to the right. Complete parts a through e below. X1 = 5,319 S1= 143 a. Use a 95% confidence interval to estimate the difference between the population means (H - H2) Interpret the contidence interval. The contidence interval IS (Round to one decimal place as needed.) Sample 2 X2 = 5,285 S2 = 198 Aa. Use a 95% confidence interval to estimate the difference between the population means (A1 - M2) Interpret the contidence interval. The contidence interval Is (Round to one decimal place as needed.) b. Test the null hypothesis Ho versus alternative hypothesis Ha (H What is the test statistic? H2) + Give the significance level of the test, and interpret the result. Use a = 0.05. Z=

1. A pediatric client is prescribed digoxin for congestive heart failure. The dose prescribed is 40 mcg/kg twice daily. The child weighs 33 pounds. What is the dosage in mg to be given per dose? Round to the nearest hundredth. Calculate your answer in mg per dose. Enter numerical value only.____mg

Take the limit of (sin(x-4))/(tan(x^2 - 16) as x approaches 4.

How to convert 45 kg into grams

9/14 x 7/27 carry out indicated operation

17. A loan for $104259 is taken out for 10 years with an annual interest rate of 9.4%, compounded quarterly. What quarterly payment is required to pay the loan off in 10 years? Enter to the nearest cent (two decimals). Do not use $ signs or commas in the answer.

Two particles of electrical charges Q1=3.8×10-⁶C and q,=4.4×10-⁶C are separated in vacuum by a distance of 4.0.10-⁸ m. Since K=9.0.10⁹ N.m²/C², the intensity of the interaction force between them, in newtons, is?

25) Paulo saves R$250.00 per month and keeps the money in a safe in his own home. At the end of 12 months, deposit the total saved into the savings account. Consider that, each year, deposits are always carried out on the same day and month; the annual yield on the savings account is 7%; and, the yield total is obtained by the interest compounding process. So, the amount that Paulo will have in his savings account after 3 years, from the moment you started saving part of your money monthly, it will be A) R$6,644.70. B) R$ 9,210.00. C) R$ 9,644.70. D) R$ 10,319.83. E) R$ 13,319.83

The inner radius of a spherical ball is 13 cm. How many liters of air are in it? Justify your answer!

The perimeter of a rectangular rug is 42 feet. The width is 9 feet. What is the length?

(3.1x10^3g^2)/(4.56x10^2g)

A gas is leaking at 3.5ft3/min in a room of 2.9m by 6.9ft by 15.7m. How long would it take (in seconds) for 22% of the room to reach the LFL, if the gas has a LFL of 2.51%?